EX-12 2 exhibit12123115.htm EXHIBIT 12 Exhibit


EXHIBIT 12. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(In Thousands)
 
 
 
 
 
Years ended December 31
2015
2014
2013
2012
2011
Earnings
 
 
 
 
 
Income (loss) before income taxes
$
121,451

$
76,463

$
101,902

$
46,074

$
(12,715
)
Add: fixed charges
24,931

31,653

36,467

42,612

43,868

Total earnings
$
146,382

$
108,116

$
138,369

$
88,686

$
31,153

Fixed charges
 
 
 
 
 
Interest on policyholders’ accounts
$
23,680

$
30,245

$
35,163

$
41,409

$
42,834

Portion of rent representative of interest factor
1,251

1,408

1,304

1,203

1,034

Total fixed charges
$
24,931

$
31,653

$
36,467

$
42,612

$
43,868

Ratio of earnings to fixed charges
5.87

3.42

3.79

2.08

0.71